Smartgiant(SH:688115) Zheng Quan Zhi Xing·2025-07-14 11:11Core Viewpoint - The company, Guangzhou Silin Jie Technology Co., Ltd., has responded to an inquiry regarding its 2024 annual report, highlighting significant growth in revenue and net profit, alongside detailed explanations of its business operations and customer relationships [1][2]. Group 1: Business Performance - In 2024, the company achieved operating revenue of 185 million yuan, a year-on-year increase of 10.14%, and a net profit attributable to shareholders of 15.27 million yuan, up 69.99% [2]. - The embedded intelligent instrument module segment generated sales of 104.77 million yuan, with new product sales accounting for 44.73 million yuan, representing 42.69% of the total [3][4]. - The company reported overseas revenue of 46.22 million yuan, constituting 25.05% of total revenue, with a year-on-year growth of 63.34% [2]. Group 2: Product Development - The company has made significant advancements in new products, including a high-precision battery testing instrument and a laser ranging data acquisition system, both of which have completed development and begun production [3][4]. - The gross margin for new products is 57.30%, while the overall gross margin for the embedded intelligent instrument module business is 62.50% [4]. Group 3: Customer Relationships - The top five customers contributed 110.98 million yuan, accounting for 59.90% of total sales, with the largest customer generating 57.92 million yuan, a decrease of 9.97% year-on-year [14]. - The company has maintained stable long-term relationships with its major customers, despite fluctuations in sales due to changes in customer production planning and procurement strategies [14]. Group 4: Audit and Verification - The company’s responses to the inquiry were verified by its sponsor and auditor, confirming the reasonableness of revenue growth and the absence of significant risks related to customer relationships [11][12]. - The auditor conducted thorough checks on revenue recognition and customer relationships, ensuring compliance with industry standards and confirming that overseas customers do not exhibit characteristics of being non-terminal or having short establishment times [10][12].